CHINA Hong Kong stocks hit fresh decade-peak on strong China inflation data

CHINA

Hong Kong stocks hit fresh decade-peak on strong China inflation data

Reuters Staff | Reuters

06:59, November 10, 2017

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Hong Kong stocks hit another decade-peak on Thursday, as index heavyweight Tencent smashed records again, with investor sentiment underpinned by China’s strong inflation data that pointed to economic resilience.

The Hang Seng index rose 0.8 percent to 29,136.57, while the China Enterprises Index jumped 1.5 percent to 11,744.54 points.

China’s producer prices were surprisingly strong in October, while consumer inflation picked up pace, suggesting the economy remains robust, easing market concerns of a slowdown.

Most sectors rose in Hong Kong, with energy, finance and IT shares leading the gain.

Chinese tech giant Tencent Holdings rose 0.3 percent to a fresh record, after news it had taken a 12 percent stake in Snapchat. (Reporting by the Shanghai Newsroom; Editing by Shri Navaratnam)


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